Gift tax filing question-help

[artp]

Husband & wife have jointly owned real property (home and farm land) in which they are retaining a life estate and gifting the remainder interest to son and daughter. Wife also had 50% interest in separate farm land with her son. She will also retain a life estate and gift remainder interest in that property to her son and daughter.

In additon husband and wife made cash gifts to both children totaling $70,000.

All of these gifts were made in April 2011.

Question: How do you report the gifts ? Normally for jointly held property (husdand & wife) they would elect to split the cash gifts to maximize the use of the annual exclusion.

Since we have both cash gifts and gifts of future interest, do you file a split gift return(s) for the cash and the joinlty held real estate--that is a single client input that will split the gifts and create a gift tax return for each spouse, but filed together- and then a second separate return for the wife only gifting her 50% interest in the separately held property to her son and daughter ? I do not know of a way do file everthing under one client input so I assume this is how you need to do it? I have not filed returns for this kind of situation before so I appreicate your input.